Capsugel has entered a definitive agreement to acquire Bend Research as part of its Dosage Form Solutions (DFS) business unit. The acquisition enhances Capsugel’s DFS bioavailability expertise and provides access to a suite of technologies to address formulation challenges for oral drug delivery, as well as a full range of modified and targeted release solutions to develop new products for customers. The transaction is subject to customary closing conditions and is expected to be complete within the next 30 days. Financial terms were not disclosed.

“The Bend Research transaction highlights Capsugel’s commitment to investment and strategic growth since becoming a KKR portfolio company in the 2011 carve-out acquisition from Pfizer,” said Guido Driesen, president and chief executive officer of Capsugel. “Capsugel and Bend Research share common foundations in science and engineering, with values centered on innovation, quality and customer service. We have been impressed by Bend Research’s people, achievements and technology and are delighted to combine our two companies.”

“We are ready to take Bend Research to the next level and the combination of our two companies is the best vehicle for helping us get there,” said Rod Ray, Ph.D., chief executive officer of Bend Research. “We will expand our industry-leading capability to meet low bioavailability formulation challenges; strengthen the global footprint to support customer partnerships around the world; and enhance our ability to scale-up and commercially manufacture the customer compounds we help formulate. We are excited to be a part of Capsugel’s future.”